Inland Western buys office towers for $138 million

Inland Western Retail Real Estate Trust has completed a $138 million sale-leaseback transaction with tenant Zurich American Insurance Co. for two 20-story towers in Schaumburg, Ill. 

The towers, which are the tallest buildings in Schaumburg, have been Zurich's North American headquarters since they were completed in 1990. Today approximately 3,000 employees work in the 895,418-square-foot towers.

The property, located at 1400-1450 E. American Lane approximately 30 miles west of Chicago, includes two five-story parking structures, along with surface parking lots, for a total of 2,380 vehicles.

Oak Brook, Ill.-based Inland Western is part of The Inland Real Estate Group of Cos. Inc., a national real estate investment conglomerate.

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